Fall brings 9% more SoCal escrows than '19
Southern California News Group |
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DATA DIVE: Sales to rise 3.3%, prices up 1.3% BY JONATHAN LANSNER | BREAKING NEWS | Realtor forecast for California: After falling three years in a row, sales of existing single-family homes to rebound 3.3% in 2021. Median price will rise 1.3% to $648,800. | | | Southern California house hunters remain active with a quick start to the traditionally slower autumn buying season: the 14th straight week of gains in the year-over-year count of new escrows. According to Zillow, in the week ending Oct. 3, new pending sales in Los Angeles, Orange, Riverside and San Bernardino counties were up 8.9% from 2019 — continuing an upswing that started July 4. Cheap mortgages and an urge for more living space in the pandemic era is keeping a summer rebound alive. In the extremely slow spring, this same metric of homebuying fell 14 consecutive weeks. | |
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INSIDER TALK | Home buyers and sellers might need to stay in touch after a deal is done. Leslie Eskildsen's thoughts on house selling. | | Southern California mortgage brokers suspected in fraudulent loan applications. Jeff Lazerson's thoughts on lending. | | HOA surprise assessments – are they legal? Kelly Richardson's thoughts on homeowner's associations. | | Can 2020 get ANY crazier for commercial real estate? Allen Buchanan's thoughts on commercial real estate. | |
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